Integrated Technology Money Transfer System

ABSTRACT

Money transfer method and system for quickly and easily sending cash from one party via electronic mediums such as phones and computer modems using one of a credit card, debit card, ATM (automated teller machine) card, and/or a bank card and/or bank checking account and/or bank savings account, to another party who accesses an electronic retrieval site using a specialized card, credit card, debit card, ATM card account, or debit card account. Simultaneous money transfers from human sender&#39;s available and accessible funds debit card accounts to human recipient&#39;s receiving debit card accounts are processed by computer without the necessity of a pre-established relationship between the sending and receiving accounts, and the method and system repeats simultaneous money transfers between other senders and receivers.

CROSS REFERENCE TO RELATED APPLICATIONS

This application is a divisional application of Ser. No. 13/396,064filed Feb. 14, 2012, now allowed, which is a divisional of Ser. No.13/031,296 filed Feb. 21, 2011, now U.S. Pat. No. 8,131,643 which is adivisional application of Ser. No. 12/709,158 filed Feb. 19, 2010, nowU.S. Pat. No. 7,912,786, which is a divisional application of Ser. No.12/012,300 filed Feb. 1, 2008, now U.S. Pat. No. 7,668,780, which is adivisional application of Ser. No. 10/027,035 filed Dec. 27, 2001, nowU.S. Pat. No. 7,415,442, which is a Continuation-in-part of applicationSer. No. 09/965,510 filed Sep. 26, 2001, now abandoned, which claims thebenefit of priority to U.S. Provisional application Ser. No. 60/235,782filed Sep. 26, 2000. The entire disclosure of each of the applicationslisted in this paragraph are incorporated herein by specific referencethereto.

FIELD OF INVENTION

This invention relates to money transfers, and in particular to a methodand system for quickly and easily sending cash from one party viaelectronic mediums such as phones and computer modems using one of acredit card, debit card, ATM (automated teller machine) card, and/or abank card and/or bank checking account and/or bank savings account, to aparty who can access an electronic retrieval site by using a specializedcard, credit card, debit card, ATM card account, or debit card account.

BACKGROUND AND PRIOR ART

There are existing services available to initiate remote cashdisbursements. For example, Western Union and Money Gram currentlyservice more than 90% of the market for sending remote cashdisbursements from one party to another. In 1997 alone, there were anestimated 48 million money transfers from Western Union, andapproximately 9 million money transfers from MoneyGram, with the totalamount of funds transferred being over $17 billion dollars, and theaverage transfer amount being approximately $300.00 with each transferhaving an average transfer fee of approximately $29.00. In addition tothe high transfer fee costs, there are other problems with these knownservices. For example, both Western Union and Money Gram offer limitedhours of availability and a limited number of cash disbursementlocations for the recipient. In 1997 there were approximately 40,000Western Union locations worldwide and approximately 69,000 plannedMoneyGram locations. Thus, if a location is not near a sender and arecipient, delays and inconvenience are common results of using theseservices. These services further require having paid persons at the cashlocation pickup sites, that add additional expenses to their use.

Over the years, various types of patents have been proposed for usingdebit type cards for money transfers. See for example, U.S. Pat. No.4,837,422 to Dethloff et al.; U.S. Pat. No. 5,350,906 to Brody et al.;U.S. Pat. No. 5,884,290 to Smorodinsky et al.; U.S. Pat. No. 5,953,710to Fleming; U.S. Pat. No. 5,991,748 to Taskett; U.S. Pat. No. 6,032,136to Brake, Jr. et al.; U.S. Pat. No. 6,044,360 to Picciallo; and U.S Pat.No. 6,061,664 to Pieterse et al.

Dethloff '422 discloses a multi-user card where one party can assigncash values to the cards for being used by third parties having accessto PIN type numbers, and is primarily limited to being an IC(integratedcircuit) card and not to a card that uses a magnetic type stripe.Additionally, this patent requires that users possess related cards inadvance of needing a money transfer

Brody '290 describes using a magnetic type card where a sponsor canallow a remote user a selected PIN number and use of a money transfer bycard/account of an issuer. Brody '290 generally requires “sponsors”,which are generally retail type outlets to sell pre-programmed cards orto place amounts on the magnetic cards by store clerks. Additionally,this system would require ATM(automated teller machines) having programsto transfer money from the issuer account to a sub-account and to an ATMin the same “sponsor” chain having that program.

Smorodinsky et al. '290 describes a money transfer system for payingbills using intercoupled computers, that requires pre-arranged accountsbilling payment authorization between three computers.

Fleming '710 describes a system in which a credit or debit card issuercan issue a parent held card and one or more pre-linked child heldcards, where the parent can control the available funds accessible bythe child held cards. This system requires that the cards be linked by apre-arrangement relationship to each other.

Taskett '748 describes a combined prepaid telephone type card and“transaction instrument”(credit or debit card) for allowing fundtransfers from the “transaction card” to the prepaid telephone typecard, and requires a pre-existing type connection and/or pre-existinglink between the credit/debit card and the prepaid telephone type card.

Brake, Jr. et al. '136 describes a prepaid telephone card or gasolinetype card which can have a secondary use as a credit card, but is notused as a money transfer card.

Picciallo '360 describes a magnetic card system where the cards can begiven to third parties and charged remotely but require “pre-establishedcustomer accounts”, for the transfers, and further requires therecipient to have a card pre-correlated to a secondary(or sub-account)of the pre-established fund holding account.

Pieterse et al. '664 describes a rechargeable type smart card systemprimarily for electronic orders and payments and can use magnetic typecards, but not for money transfer type services.

Thus, the need exists for an improved system for transferring money toremote locations.

SUMMARY OF THE INVENTION

A primary objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and a remotelylocated recipient without a pre-established relationship, such as anaccount link, between the parties.

A secondary objective of this invention is to provide a method andsystem for sending money transfers such as cash between a sender and aremotely located recipient automatically in other than the currency oforigin, at the current foreign rate of exchange at the time of thepayout.

A third objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and a remotelylocated recipient, that has the safety and security of a bank escrowaccount acting as an agent between the parties.

A fourth objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and a remotelylocated recipient where a deposit is made to a safe escrow account underan escrow contractual agreement which allows for payout upon propertransmission of the account number by the recipient.

A fifth objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and anyremotely located recipient, anywhere, and anytime.

A sixth objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and a remotelylocated recipient having lower costs than traditional services such asWestern Union, MoneyGram, and the like.

A seventh objective of this invention is to provide a method and systemfor sending unplanned money transfers such as emergency cash fromanyone, anytime, anywhere to another party without any pre-arrangementexisting between the sender and the recipient, the sender and the escrowagent middlemen, and the recipient and escrow agent middlemen.

An eighth objective of this invention is to provide a method and systemfor sending money transfers such as cash from one party to another wherea cash management escrow agent enables the transfer to be automaticallyand simultaneously transferred for payment through an ATM (automatedteller machine).

A ninth objective of this invention is to provide a method and systemfor sending money transfers such as cash between a sender and a remotelylocated recipient having access to a magnetic cash card, such as a debitcard, a credit card, and/or an ATM (automated teller machine) card.

The tenth objective of this invention is to provide a method and systemfor sending money transfers such as cash from a sender to a remotelylocated recipient, with the sender only needing access to a debit card,credit card, bank card, and/or ATM (automated teller machine) card,and/or bank checking and/or bank savings account for the transfer.

The eleventh objective of this invention is provide a method and systemfor sending money transfers such as cash from a sender to a remotelylocated recipient that uses a magnetic card, and without requiring theuse of “smart card” integrated circuit (IC) card technology.

The twelvth objective of the invention is to provide a method and systemfor using double magnetic sided cards to retrieve cash from senders withone stripe and to use the other striped side for other transactions suchas for a phone card, credit card, debit card, and the like.

A preferred example of using the invention system allows for a sender touse a touch-tone telephone, a P.O.S. (point of sale) terminal, acomputer modem and the like, to authorize a central escrow agent such asa national bank to apply funds from the sender's account such as theircredit card, bank card, debit card, ATM (automated teller machine) card,bank checking account, bank savings account and the like, to a recipientat a remote location. The recipient can visit any ATM site and use amagnetic card such as a specialized magnetic card, their credit card,bank card, ATM card, or debit card to immediately and automaticallyretrieve the money transferred funds.

Sender of Money Transfer Using System can authorize the transfer asfollows:

-   1. Sender uses a touch-tone telephone to call a toll-free CM (cash    magic) number.-   2. Call Center computer answers the call with several ‘preliminary”    prompts: English/Spanish, fee structure—if desired, terms of    transactions, etc.-   3. If you have a Credit Card, Debit Card or ATM Card with a PIN    number and are ready to transfer the cash—Press 1.-   4. Please enter the amount you want made available from an ATM in    multiples of(for example) $20.00 (e.g., $300) then press the    pound (#) sign.-   5. Computer program computes charge.-   6. The total amount which will be charged to your card will be (for    example, $320). Press 1 to continue.-   7. Please enter your Credit Card, Debit Card or ATM Card number.-   8. Please enter your PIN number.-   9. Please enter the CM card number to be used for withdrawal or    Press the pound (#) sign if you want to transfer to any CM card with    a PIN number to be assigned.-   10. If card number entered:    -   The computer processes the transfer from the caller's Credit        Card, Debit Card or ATM Card and “deposits” the face amount plus        the reserve for a possible ATM surcharge and the network        processing fees to an “Escrow Account” with, for example, a        9-digit account number composed of the last 5-digits of the card        number plus the 4-digit PIN number. The balance goes to the        general income account.-   11. If the pound sign (#) is pressed:    -   The computer assigns a random account number described as a PIN        number, advises the caller of the number and asks the caller to        enter the number to confirm the recorded number then the        pound (#) sign to complete the transaction. The computer        processes the transfer from the caller's Credit Card, Debit Card        or ATM Card and “deposits” the face amount plus the reserve for        a possible ATM surcharge and network processing fees to an        “Escrow Account” with the PIN number to complete the account        number and the balance to the general income account.

Recipient Using The Invention System to Withdraw Money

-   1. Recipient inserts CM(cash magic) card, follows withdrawal prompts    and enters for example, the PIN number.-   2. CM computer program authorizes ATM pay-out, which virtually    simultaneously occurs, ATM surcharge payment, if any, and payment of    network processing fees.-   3. Computer then transfers the excess reserve to the invention's    “Excess Transfer Reserve Income Account.”

Other miscellaneous information such as instructions to use the system,lost card and refund information, and the like can also be accessed bythe users to this system.

For each user of a Cash Magic (CM) magnetic card.

-   A. For example, 4-digit PIN number can be permanently assigned each    CM card, thereby becoming, when prefaced with the last, for example,    5 numbers individually assigned to each card, a, for example,    9-digit account number accessible by that card and the, for example,    4-digit PIN number. A second account can be accessible with any card    and an account number referred to, and utilized at an ATM, as a PIN    number.-   B. The entry of a wrong PIN number at an ATM, or in a call center    balance inquiry, will prompt a request that the correct PIN number    be entered. If approximately two or more entries are not correct the    transaction will be terminated and the card suspended for 1 hour to    prevent fraudulent searching. Additional use(s) of the card with an    incorrect PIN number can result in revocation of that card.-   C. After, for example, approximately 48 hours, the intended    recipient, with the CM card and the PIN number or the sender with    the sender card number, can by phone or mail request CM to close the    account and to send a check for a complete refund of the full amount    paid by the sender, or such amount as may remain in the account due    to only partial pay-out because of an ATM limitation, or because the    international exchange rate caused payment only to the nearest    foreign money multiple.-   D. Any ‘Transfer Money’ left in the “Escrow Account” at the    expiration of, for example, 5 years can be donated to a charity such    as the American Cancer Society, and the like.-   E. Cash can also be received from cooperative stores or banks which    could “swipe” the card and put through a charge for the amount    available to the recipient plus a fee reserved for the highest    potential ATM surcharge or a portion of the same, thereby earning a    fee for handling the transaction and paying out the cash. The    customers can enter their own PIN number on the keypad as they    presently do when utilizing any Debit Card's PIN number to make a    purchase. Supermarkets and other businesses presently offer    additional cash withdrawal which is added to the amount charged to    the card. Signs offering to pay-out CM transfers are anticipated to    be well received by businesses since it will result in additional    income and additional potential customers with cash in hand inside    their establishment.

The recipient can use a magnetic card entitled a Cash Magic (CM) card ora similar or different entitled card to use the invention.Additionally,the recipient of the money transfer can use a debit card,credit card, bank card, and ATM (automated teller machine) card toaccess the money transfer funds.

A tethered magnetic card can be fixably tethered at remotely located ATM(automatic teller machines) so that money transfer recipients do notneed to carry a magnetic card with them.

Additionally, the card can have magnetic stripes on both sides forallowing for various uses of the card as needed. For example, one cardcan be used as a cash magic card, and the oposite side of the card canbe used as a phone card, and the like.

Further objects and advantages of this invention will be apparent fromthe following detailed description of a presently preferred embodimentwhich is illustrated schematically in the accompanying drawings.

BRIEF DESCRIPTION OF THE FIGURES

FIG. 1 shows an overview of a preferred embodiment of the novelinvention.

FIG. 2A shows an example of a Sender Process flow chart for theinvention.

FIG. 2B shows an example of a Recipient Process flow chart for theinvention.

FIGS. 3A, 3B shows a detailed call flow chart of the invention.

FIG. 4A shows the pConfirm Transfer flow chart portion of the invention.

FIG. 4B shows the pinfoMain flow chart portion of the invention.

FIG. 4C shows the pQuestions flow chart portion of the invention.

FIG. 4D shows the pNotProcessed flow chart portion of the invention.

FIG. 5 shows a modified magnetic card that can be used with the subjectinvention.

FIG. 6 shows another modified magnetic card that can be used with thesubject invention.

FIG. 7A shows a front side of a novel double magnetic striped card foruse with the invention.

FIG. 7B shows a back side of the double magnetic striped card of FIG.7A.

DESCRIPTION OF THE PREFERRED EMBODIMENT

Before explaining the disclosed embodiment of the present invention indetail it is to be understood that the invention is not limited in itsapplication to the details of the particular arrangement shown since theinvention is capable of other embodiments. Also, the terminology usedherein is for the purpose of description and not of limitation.

As stated in the background of the invention in 1997, there were at thattime approximately 40,000 Western Union locations worldwide andapproximately 69,000 planned MoneyGram locations. These known types ofmoney transfer services would thus be limited to recipients having tolocate these locations and also plan their time to be at the normaloperating hours of those locations. The subject invention can use anyATM (automated teller machine) in the world. In 1997 alone there weremore than 200,000ATMs in the United States alone, more than double thenumber of Western Unions and MoneyGram locations at that time. Worldwidein 1997, there were more than 500,000 ATMs, which were approximatelyfive times the number of Western Unions and MoneyGram locations.Additionally, the ATMs are generally accessible 24 hours a day, 7 days aweek, and 365 days a year. The invention plans to have lower chargesthan the traditional Western Union and MoneyGram transaction fees.

The invention can be used with an existing bank for the deposit andwithdrawal of transferred monies. The invention can even be implementedinto an existing banks' use of ATMs by the leasing of their excess“white space” computer capacity. ATM usage and associated fees can bepaid to the ATM owner and to network transfer and settlement serviceproviders. The Credit Card, Debit Card or ATM Card issuer can enjoy thebenefits of increased card usage. Fees for using the system can becovered by the bank and credit card issuers mailing of monthlystatements.

FIG. 1 shows an overview of a preferred embodiment 1000 of the novelinvention. Referring to FIG. 1, a sender 1010 can enter S1, accountinformation from a sender account using account information from avariety of accounts such as that found on a card 1020 such as a creditcard, bank card, automated teller machine (ATM) card, debit card, bankchecking account, bank savings account, and the like. The sender 1010authorizes a money transfer, such as a cash transfer, emergency fundstransfer, and the like, to be taken from the sender's account, and canuse a secure PIN (personal identification number). The accountinformation, and amount of money transfer can be entered S2 via anelectronic input device 1030 such as using a touch-tone telephone, acomputer modem, an automated teller machine (ATM), and the like, whichpasses the information through transmission lines S3 such as telephonelines, wireless transmissions, and the like to a escrow agent storagesite 1100 such as a national bank, repository agent, and the like. Theelectronic escrow agent 1100 takes the money transfer funds, andsubtracts out a transfer fee, and forwards the money transfer via S4 tothe recipients remotely located electronic retrieval site 1200 such asan automated teller machine (ATM), where the recipient R, 1230 canretrieve the money transfer via a magnetic card 1210 (such as aspecialized Cash Magic (CM) card, credit card, debit card, bank card, orATM card) by entering the magnetic card information(i.e. account number,and/or PIN (personal identification number) and the like) R1 to theelectronic retrieval site 1200. Finally, the money transfer in the formof cash, or the like, can be retrieved, R2, by the recipient R, 1230.

The invention allows for the virtually simultaneous transfer of funds tothe escrow agent with enough fees to allow for all processing fees to bededucted. The invention does not require special hardware since existingATM terminals can easily be used with the invention.

The invention can allow a recipient to use magnetic cards such as aspecialized Cash Magic card (which can initially be empty), creditcards, debit cards, bank cards, ATM cards, and does not require “smartcard” integrated circuit (IC) technology, and thus eliminates the highercosts associated with using “smart cards”, and the limited access to“smart card” devices.

FIG. 2A shows an example of a Sender Process flow chart 1 for theinvention. A sender 5 having monies who wishes to transfer the monies toa recipient party can use a contact medium 10, such as a touch tonetelephone (for example using a toll free 800 number and the like)connecting to an IVR (Interactive Voice Response) system, and/or to alive operator, and/or an employer/employee card swipe, and/or with ahome, office or personal computer to contact a Call Center 15. Thelatter routes the sender's call to a computer 20 which receives multiplesimultaneous calls and data, and processes the same in automated modeswith software. Next, the system can use further adapters 25 such ascomputer programs to convert the incomming data to the “Language” of theexisting Banks, Processors and Clearinghouses. Next, the Banks,Processors, and Clearinghouses check 30 for Approval Processing andTransfers on monies from the Sender. Next, General Ledger AccountingSystem Data 35 is compiled to enable a Demand Split Deposit 40 whichtakes monies from the Sender for processing the Initial Fee transactionto an income account 45, and sends the authorized monies transfer to aRecipient Retrieval Escrow Account 50, for later pickup by theRecipient.

FIG. 2B shows an example of a Recipient Process flow chart 60 for theinvention(s). A recipient can use their “CM” (cash magic) MagneticStripe Card, “CM” Integrated Chip Card 65 to access a money machine 70such as an ATM (automated teller machine), Bank Card Swipe Machine, orI.C. (integrated circuit) Terminal which passes information on the cardto a Processing Network 75 to seek approval to use the card. Uponapproval, the system processing networks 85 convey approval and transferauthorization to the money transfer machine 90 such as the ATM, Bank,POS Card Swipe or I.C. Terminal and cash 95 is disbursed to theRecipient.

The invention can be used with other channels of communication such asbut not limited to the Internet via a Web front-end module, Wireless,Fax, and E-Mail. Other languages may also be added easily, as well asincreased functionality.

With the subject invention a central bank can process the money transfertransactions which can include monetary transfers, financial security,logging, and history. Exchange rate information can also reside with thecentral bank.

Computers in the invention can store application specific data andapplication statistics, which can run on the IVR (Integrated VoiceResponse) computers. Customer-specific data can also reside on thesecomputers.

The physical locations of the call centers and the IVR type computersused in FIGS. 2A-2B can be at the same or different locations. The bankcomputer can be at the same or different locations than the call centersand the IVR computers.

FIG. 3 shows a detailed call flow chart of the invention for aprogression of one successful money transfer transaction. FIG. 4A showsthe pConfirm Transfer flow chart portion of the invention. FIG. 4B showsthe pinfoMain flow chart of the invention. FIG. 4C shows the pQuestionsflow chart portion of the invention. FIG. 4D shows the pNotProcessedflow chart portion of the invention.

Referring to FIGS. 3 and 4A-4D, a progression of one successful moneytransfer through this invention begins at box 10 and concludes at box200. At box 10, the caller using a touch-tone telephone dials a tollfree number and gets routed from the call center to the inventionsystem. At 20, initial call statistics (location of caller, identity ofcaller, and the like) are written to a Database Server. At 30, thecaller hears a greeting from the invention system. At 40, the caller isprompted to enter a number corresponding to which language they wouldlike to hear the prompts in. This value is used to set languageparameters in the application. Currently for example, 1 can be setup forEnglish and 2 can be setup for Spanish. At 50, the caller is played theneeded requirements (do they have a credit card, debit card, ATM(automated teller machine) card with PIN (personal identificationnumber), Cash Magic card(debit type card for use with this invention).At 60, the caller is asked if they would like to transfer cash or getinformation on the system. At 70, to transfer cash, a 1 can be pressed,and 400 to get information, or 2 can be pressed.

At 70, the caller is prompted to enter their magnetic card number(credit card, debit card, bank card, ATM card, Cash Magic card). If thecaller presses the * key because they do not know this number they go to220. Once at 220, the caller can be told that they will need this numbertb transfer funds through the invention system. They are then given theoption of hearing information on how to obtain a Cash Magic card, go to420, or listen to general information on the invention's automatedsystem, go to 400.

At 80, the caller is read back the magnetic card number entered andasked to Press 1 to confirm, or 2 to re-enter it. At 90, the magneticcard number entered is verified in the database as a valid number on thesystem. If it is valid, the caller can continue. If the number isinvalid, they go to 230, which will tell the caller that they need tohave a valid magnetic card number to use the system. The invention willthen allow the caller to enter a different number by pressing 1 or givethe caller information on the Cash Magic system by pressing 2, go to410.

At 100, the caller is next prompted to enter a credit card, ATM, ordebit card number to transfer the money from. At 110, the caller is nextprompted to enter the PIN (personal identification number) associatedwith the credit card, ATM, debit card, bank checking account, banksavings account that the money is being transferred from. If the * keyis pressed, the caller does not know the PIN and goes to 240. Thisprompt will tell the caller that they need to know the PIN to use theinvention system. The caller will be offered a choice of gettinginformation on the invention's automated system by pressing 1, go to400, or exiting the system by pressing 2, go to 340, if they do not knowthis PIN, or to go to a live operator for assistance in making thetransfer with other information.

At 120, the caller is prompted to enter the amount of the transfer in$20 increments(while $20 is referred here, other increment value amountsless than or greater than $20 can be used).

At 130, the amount entered is verified to be in $20 increments and thatit does not exceed the maximum single transfer limit of the inventionsystem. If the amount is in $20 increments and is below the maximumsingle transfer limit, the caller goes to 140. If the entered amount isgreater than the maximum single transfer amount, the amount is set tothat limit and the caller is prompted in 250 to press 1 if this amountis acceptable or press 2 to enter a new amount. If the amount entered isnot in $20 increments, the amount is set to the next higher $20increment below the maximum single transfer limit and the caller isprompted at 260 to enter 1 if this amount is acceptable or 2 to enter anew amount.

Referring to FIGS. 3 and 4A, at 140, the caller is read back thetransfer information and asked to confirm the transfer by pressing 1. Ifthe caller declines the confirmation, by pressing 2, all data is clearedand the caller is returned to 60.

At 150, this transaction is processed by the Bank (3 FIG. 2). The dataentered is checked for fraud, adequate account balance, PIN security,and system availability. This data is passed to the IVR computer.

At 160, the data passed by the Bank is written to a computer fortracking by the invention system.

At 170, depending on the data returned by the Bank, the application cantake various paths. If all checks are passed, the application goes to180. Checks are performed to verify that several conditions do notexist. For example, if an invalid PIN was used, go to 270. If propercredit is unavailable for this transaction, go to 280. If the card hasbeen marked as fraudulent, go to 290. And if the Bank verification isunavailable, go to 300.

At 180, the caller is told that the transfer was successful and isprompted to enter another transfer by pressing 1, go to 70. Or indicatethat they are done, by pressing 2, go to 190.

Box 190 refers to the system thanking the caller for using the inventionsystem. At 200, the application hangs up and resets the channel for thenext call.

At 270, the data returned by the Bank indicates that the PIN number usedis invalid. The caller can enter the PIN again by pressing 1, go to 110;or the caller can press 2 to get information on the invention system, goto 400.

At 280, the data returned by the Bank indicates that the amount enteredby the caller is not available for this transaction. The caller isprompted to enter a lower transfer amount, by pressing 1 (310), go to120; use a different card to transfer the money from, by pressing 2(320), go to 100; or get information on the invention system by pressing3 (330), go to 400.

At 290, the data returned by the Bank indicates that the data entered bythe caller is fraudulent. In this case, the system immediately plays thecaller a goodbye message at 340 and hangs up at 200. It is possible toalso restrict the magnetic card use if this is encountered.

At 300, in this scenario, the Bank is unavailable for transactionprocessing. The caller is played a technical difficulty message and thena hang up occurs at 200.

Referring to FIGS. 3 and 4B, when information is requested about theinvention system, the processing begins at 400.

Referring to FIGS. 3 and 4B, at 400, the caller enters the informationbranch and is prompted to enter 1 to hear general information about thesystem, go to 410; enter 2 to hear information of how to obtain a CashMagic magnetic card, go to 420; enter 3 to hear the fee structure for amoney transfer to a magnetic card(Cash Magic card, debit card, creditcard, bank card, ATM card), go to 430; enter 4 to hear InternationalExchange

Rates, go to 440; enter 5 to hear information on how to contact thesystem, go to 450; Cash Magic; or enter 6 if you have questions about aCash Magic transfer, go to 460.

At 410, the caller hears general information about the invention systemand goes to 60. At 420, the caller hears information on how to obtainCash Magic magnetic card and goes to 60. At 430, the caller is promptedto enter a transfer amount and is spoken the fee associated with thistransfer amount. After this is completed, the caller is asked to enter 1if they would like to process this transfer amount and goes to 70 toenter their Cash Magic card number. If 2 is pressed, the caller is sentto 60. At 440, the caller hears International Exchange rates and goes to60. At 450, the caller hears contact information for system and goes to60.

Referring to FIGS. 1 and 4C, at 460, the caller can receive informationto their questions. The caller is prompted to enter 1 if their CashMagic card has been lost or stolen, go to 470; enter 2 if the Cash Magiccard does not function, go to 530; enter 3 if you have forgotten yourCash Magic PIN, go to 540; or enter 4 to transfer to a live operator, goto 550.

At 470 the system prompts the caller to enter their Cash Magic cardnumber that was lost, stolen, or inoperable.

At 480, once the caller's Cash Magic card number is entered, theirtransaction history is queried via the Database Computer. The results ofthis query determine where the caller goes next in the application. Ifcaller has a transaction that has not been processed, they go to 600; ifthe caller has a transaction that has already been processed they go to500; if the caller has more than one pending transaction, they go to510; and if the caller has no pending transactions they go to 520.

At 500, the caller is told that the transaction has already beenprocessed and is sent to 60. At 530, the caller is spoken informationregarding the bad card and is offered a choice of pressing 1, to go tothe Lost/Stolen logic at 470 or press 2 to go to 60.

At 540, the caller is told that they need to have the Cash Magic cardPIN to process a transaction on this card. The caller can the press 1 totransfer the amount to a different Cash Magic card, at 620; or press 2to get information on how to obtain a new Cash Magic card, go to 420.

At 550, the caller is told to standby while they are transferred to anoperator. At 560, the call is transferred to an operator. If thetransfer is successful, go to hang up at 580. If the transfer isunsuccessful, a prompt is spoken at 570 to tell the caller that thetransfer was not able to take place and the hang up occurs at 580.

At 570, the invention system plays an unsuccessful transfer message andhangs up at 580 which hangs up the line and frees the channel for thenext caller.

Referring to FIGS. 3 and 4D, at this point 600, data from the Bankindicates that the caller's transaction has not yet been processed. Thecaller is prompted to transfer this amount to a new Cash Magic card bypressing 1, go to 610; or press 2 to cancel this transaction, go to 670.

At 620, the caller is prompted to enter the new Cash Magic accountnumber, which is receiving the funds. At 630, the new Cash Magic numberis verified as operational in the Database. If the number entered isvalid, go to 640, if the number entered is invalid, go to 230. At 640,this transaction modification is sent to the Bank for processing. Ifsuccessful, go to 650; if unsuccessful, go to 660. At 650, the caller istold that the modification is complete and sent to 180. At 660, thecaller is told that the modification did not take place and is sent to410. At 680, the cancel transaction is sent to the Bank for processing.And if successful, go to 690; if unsuccessful, go to 700. At 690, thisprompt tells the caller that their transaction has been successfullycancelled and sends them to 340.

At 700, this prompt tells the caller the cancellation was unsuccessful.The caller is then prompted to enter 1 to try again, go to 630; or enter2 for more information, go to 410 (FIG. 4B).

FIG. 5 shows a modified magnetic tethered card 2000 that can be usedwith the subject invention. Magnetic card 2000 can include a rectangularcard portion 2100 with magnetic strip portion 2150, and extending fromone corner of the card 2100 a longitudinal thin rectangular stripportion 2200 having an aperture 2250 at the end with a flexible tetherline 2300 for attaching the modified card 2000 to an ATM (automatedteller machine) 2400.

This extended-card 2000 can be attached or tethered to an ATM 2400 foruse by a recipient that is not in personal possession of any magneticcard that can use an ATM machine. The extended-card 2000 can beconstructed so as to have the standard and usual magnetic stripe ATMcard dimensions 2100 and magnetic stripe 2150 as the first portion ofthe card. The extended-card 2000 can be inserted into an ATM terminaldevice opening or “swiped” through an ATM “card swipe” if the ATM wasconstructed with a “card swipe” rather than a card insertion opening.The magnetic stripe information from the tethered card 2000 can beassimilated and communicated through the presently existing andpotentially future existing magnetic stripe processing devices andnetworks in the same manner otherwise described in this invention.

Referring to FIG. 5, extended-card 2000 can have an extension 2200 inthe rear portion which will, when the extended-card is used, extendbeyond a presently existing or future existing ATM magnetic cardinsertion opening or “card swipe” device. The extended-card can have ahole 2250 or other suitable means to have a tether 2300 that can includebut not be limited to a chain, cord or other suitable tether attached tothe extended portion of the extended-card 2000.

The other end 2350 of the tether 2300 can be fixably attached to the ATM(automated teller machine) 2400 in a manner similar in principle to thatpresently utilized in retail stores to allow an item for sale to bedisplayed in a manner that permits mobility of the item for examination,while fixably securing the item to a display counter. The tether 2300can be attached to a fixture device 2350 or other medium which can beglued or otherwise attached to the ATM 2400 or to a location suitablyclose to the ATM 2400 and within reach of the card tether 2300. The ATM2400 can be an ATM such as for example, those manufactured by INTERBOLD“I” Series, and several year old or older NCR model ATMs, in which atraditional rectangular magnetic card is completely inserted inside anaccess opening 2450 such as a slot or a slot with a door which closesafter a rectangular card is inserted inside. With the novel card 2100,the extended portion 2200 remains outside the slot 2450, or in the caseof a sliding door, the sliding ATM door can be stopped from closingbecause of the extended portion 2200, which will not interfere with ordisrupt the transaction.

Referring again to FIG. 5, the card account number including thatportion described as a PIN can be communicated by the intended recipientto the sender and the transfer made to that account. Alternatively, thetransfer could be made to any of the system's primary account numbers tobe accessed with the latter portion of the account number described andutilized as a PIN. In the latter application the PIN portion of theaccount number can be selected by the recipient or the sender andentered in the sending process in response to a suitable addition to theIVR prompts or randomly assigned by the system and communicated to thesender who will communicate same to the recipient.

The recipient can access the ATM 2400 with the tethered card 2000 andimplement the receipt of the transferred cash by entering that portionof the account number described as a PIN in response to the ATM promptfor the PIN as such PIN portion of the account number has been providedfor above.

FIG. 6 shows another modified magnetic card 3000 that can be used withthe subject invention. Magnetic card 3000 can include a rectangular cardportion 3100 with magnetic strip portion 3150, and extending from onecorner of the card 3100 and an aperture 3250 at a corner other than onehaving the magnetic strip 3150. The aperture allows for a flexibletether line 3300 such as a chain, cord, and the like, for attaching themodified card 3000 to an ATM (automated teller machine) 3400.

This novel card 3000 can be attached or tethered to an ATM 3400 for useby a recipient that is not in personal possession of any magnetic cardthat can use an ATM machine. The extended-card 3000 can be constructedso as to have the standard and usual magnetic stripe ATM card dimensions3100 and magnetic stripe 3150 as the first portion of the card. Thenovel card 3000 can be inserted into an ATM terminal device opening or“swiped” through an ATM “card swipe” if the ATM was constructed with a“card swipe” rather than a card insertion opening. The magnetic stripeinformation from the tethered card 3000 can be assimilated andcommunicated through the presently existing and potentially futureexisting magnetic stripe processing devices and networks in the samemanner otherwise described in this invention.

Referring to FIG. 6, card 3000 can be used in both an ATM having an ATMmagnetic card insertion opening or “card swipe” device. The tether 3300can be fixably attached at one end to the magnetic card 3000, and theother end 3350 of the tether 3300 can be fixably attached to the ATM(automated teller machine) 3400 in a manner similar in principle to thatpresently utilized in retail stores to allow an item for sale to bedisplayed in a manner that permits mobility of the item for examination,while fixably securing the item to a display counter. The tether 3300can be attached to a fixture device 3350 or other medium which can beglued or otherwise attached to the ATM 3400 or to a location suitablyclose to the ATM 3400 and within reach of the card tether 3300. The ATM3400 can be an ATM such as for example, a magnetic card swipe model NCRmodel ATMs, in which magnetic strip portion 3150 of card 3000 is swipedinto a swiping channel 3450 on the ATM 3400.

Both the novel magnetic cards 2000 FIGS. 5 and 3000 FIG. 6 can be usedwith either slot opening ATMs, slot and sliding door version ATMs, andside swiping channel version ATMs.

As previously discussed, the invention uses magnetic cards such ascredit cards, debit cards, bank cards, and ATM (automated tellermachine) cards, and can use a specialized magnetic card earlier referredto as a Cash Magic card. The Cash Magic cards can be sold initially atretail stores for example, at $3.00 and the retail stores can purchasethese for example at $1.50, giving a 100% sales profit to the merchant.Stores that presently sell another provider's pre-paid phone card may,particularly at the outset, choose to sell only this card.

Alternatively, retail stores can also sell specialized cash magic cardscombined with a phone card. For example, the Cash Magic card can have anaccount that can have money transferred to by a sender on one side ofthe card, and the other side of the card can be a phone card with forexample, 20 minutes pre-paid phone time for a price of for example,$5.00. These cards can have a magnetic stripe on each side, one for thecash transfer application and one for the phone card.

FIG. 7A shows a front side 4100 of a card 4000 having magnetic stripeson both sides. In FIG. 7A, a magnetic stripe 4150 can be located acrossan upper longitudinal portion of the front side 4100 of the card. On thefront side 4100, the magnetic stripe 4150 can be used for the cash magicoperation.

FIG. 7B shows a back side 4200 of the card 4000 with the magnetic stripe4250 that can be located across a lower longitudinal portion of the backside 4200 of the card 4000. On the back side 4200 of the card 4000, themagnetic stripe 4250 can be used for other transactions such as but notlimited to being used as a phone card, a credit card, a debit card, bankcard, ATM card, or a bank checking account, bank savings account, andthe like. Thus, the invention can allow for a single card to be used fordifferent transactions, that can have funds authorized by the samesender/recipient system described in the invention. Additionally, thedouble magnetic sided cards 4000 can have a cash magic side, and aseparate side having pre-existing funds or separately generated fundsfor making transactions.

The owners of this system can sell the basic cards for a wholesale priceof for example, $2.50 giving a 100% sales profit to the merchant. TheCash Magic type cards may be purchased when needed to access an ATM, orpurchased in advance for ready availability'for future use.

The invention can be used by specific employers giving out Cash Magic(CM) type magnetic cards to their employees. Each employee can receiveone or more CM cards. The CM computer program supplied can put anemployee information format onto a computer monitor. The employer willfill in the information needed for the later determination ofwithholding taxes and other payroll computations. The employee cansupply the CM account number, without the PIN (personal identificationnumbers), which is to receive the net pay. Alternatively the employeecan supply more than one CM card account number and the amounts orpercentages to be transferred to each. One or more CM cards can be sent,or otherwise acquired by dependent relatives, even in Mexico or anothercountry, to receive a portion of the employee's income. The PIN numbercan be changed by calling a CM toll-free service center number andfollowing the I.V.R. prompts.

The employee can put his card through the “Card Swipe” when startingwork and when stopping. The CM computer program can compute the timeworked, the gross pay, the deductions, and the net pay.

The “Card Swipe” can be at the employer's location or the work-site witha portable personal computer. Transfers can be made on a daily basis, orsuch basis as preferred by the employer. The money transfer can beimplemented by calling a special toll-free number, which will access anddownload the payroll information into the CM computer payroll program.Alternatively, a CM website can also safely receive encryptedinformation from the employer's computer.

The CM (cash magic) employer computer program can transfer eachemployee's net pay from the employer's payroll account to the Cash Magicaccount. The system can deduct an agreed fee or service charge and splitdeposit the balance to the individual employee's CM escrow account, oraccounts, accessible with the CM magnetic stripe card(s) from any ATMwith the addition of the PIN number correlated to that account.

The transfer to the employee's CM (cash magic) escrow account(s)accessible from any domestic or foreign ATM can occur virtuallysimultaneously with the implementation by the employer. The employer canalso elect to transfer withholding taxes to a CM escrow account.

The invention system can benefit employers by providing an easy to use,accurate, time saving, and inexpensive payroll system. The automatedsystem can eliminate bookkeeping, payroll and tax computations, checkwriting and virtually all expenses normally associated with the employeepayroll. Employer and employee statements can be acquired from the CMcomputer periodically and on demand.

The invention system can benefit employees by providing a quick, easy touse method to receive pay, as earned, without a traditional bankaccount, and to send a portion of the pay to a relative, even in anothercountry, at low cost and without any effort.

An alternative method can also be provided for employers withoutcomputers. The CM (cash magic) invention system can also provide thenecessary payroll computations. The individual employee's informationcan be entered by accessing a CM toll-free number and I.V.R. promptswill stimulate the entry of information with a touch-tone keypad. Thecard swipe can then be connected to the CM program, set up for thatemployer, with a telephone line connection to the CM computer, whichwill perform all computations and transfers.

Another alternative method would be to use live or automated operators,or combinations thereof, for all or part of the process steps of theinvention.

The CM employer payroll system which combines a “Card Swipe”, anaccounting system, a tax and payroll computation system and a virtuallysimultaneous ATM cash pay-out system, virtually without employer time oreffort, can be an extreme improvement over all present“state-of-the-art” payroll systems. The invention can be of particularbenefit to more than 35% of American adults who do not have bankaccounts and to those who employ them.

A “Service Provider” using the system(such as an employer or a merchantprocessing a sending implementation) can accept and retain a portion ofthe processing fees such as a 20% service fee for the service rendered,which amount can be discounted from the CM (cash magic) fee, or refuseit as a “perk” or job benefit to the employee or an advantage to acustomer if the provider is a merchant.

Although the preferred embodiment describes using a touch-tone telephoneto send the money transfer, other mediums such as but not limited toPC(personal computers) connected to modems, the Internet, merchant cardswipe machines, live telephone operators, P.O.S. (Point of SaleTerminals, and automated telephone operators can also be used toauthorize the sending of the money transfer.

While the invention has been described, disclosed, illustrated and shownin various terms of certain embodiments or modifications which it haspresumed in practice, the scope of the invention is not intended to be,nor should it be deemed to be, limited thereby and such othermodifications or embodiments as may be suggested by the teachings hereinare particularly reserved especially as they fall within the breadth andscope of the claims here appended.

We claim:
 1. A consumer accessible and consumer operable computerautomated I.V.R. (Interactive Voice Response) funds transfer methodconfigured to provide an automated series of sequential communicationsand automated processes for transferring funds from a human person'ssending debit account to a human person's receiving debit accountcomprising the steps of: providing a computer and I.V.R. that a consumeris able to access and operate to transfer funds from a debit account toa different debit account; providing for accessing and operatingconsumer accessible and consumer operable computer automated IVR fundstransfer method by a consumer sender's phone; communicating automatedprompts to a consumer sender that has accessed and is operating thetransfer method to provide a sending debit account's identificationinformation data and the amount of funds to be transferred data and areceiving debit account's identification information data; receivingresponses from the sender providing the sending debit accountinformation data and the amount of funds to be transferred data and thereceiving debit account identification information data; processing andconveying data received with a series of automated sequential processesand communications to and from the sending debit account and thereceiving debit account utilizing an adaptor to transform the datareceived into a different data language for processing; processing andcommunicating data to transfer funds from and to debit accounts byprocessing the withdrawal of funds from an account for a sending debitaccount as a consumer sender's remote electronic withdrawal from avirtual ATM (Automated Teller Machine) to withdraw funds from theaccount for the sending debit account and to electronically convey fundsto an account for a receiving debit account; transferring funds withoutthe necessity of a pre-existing account link having been createdconnecting the particular sending debit account and the particularreceiving debit account prior to a sender accessing and operating thetransfer method to make a funds transfer as required in transfersbetween pre-connected and pre-linked parent/child and other similarjoint type accounts; and, repeating simultaneously the transfer method'saccessibility, conveying of prompts and data receiving, processing andconveying sequences to perform virtually simultaneous transfers of fundsfrom different sending debit accounts to different receiving debitaccounts.
 2. The method of claim 1, further comprising the step of:transferring funds to debit card accounts.
 3. The method of claim 1,further comprising the step of: transferring funds which are not apayment step in a multi-step product purchase process businessrelationship with the recipient.
 4. The method of claim 1, furthercomprising the step of: receiving communications from a sender'stouch-tone phone.
 5. The method of claim 1, wherein funds aretransferred by a computer transfer system's sequential processes andcommunications pursuant to a consumer sender's one communicationsresponses to the computer transfer systems prompts.